Why IMAX Stock Soared on Monday
With The Odyssey continuing to draw huge audiences, (NYSE: IMAX) is having quite the blockbuster summer as a company. The big-screen operator and film exhibition tech specialist said the movie lifted it to the top-grossing month in its history. What's more, another hit release will swing across its large-format screens in the coming days.
With that one-two punch of encouraging news, IMAX's shares closed Monday almost 7% higher.
Thanks in no small part to the huge-budget Christopher Nolan epic, IMAX's box-office revenue hit $257 million in July, which was a meaty 47% higher than its previous monthly all-time high. The Odyssey's IMAX ticket sales totaled $221 million for the month.
Source Fool.com
